RACV Car Loans

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RACV Financial is a provider of car loans, personal loans, home loans, and business loans.

Compare RACV car loans

The table below displays a snapshot of RACV’s car loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a five-year loan in NSW.

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What car loan(s) does RACV offer?

At the time of writing, RACV offers one main car loan option with following features:

Up to a 20% discount for RACV Gold 50 Members – rate of 4.79% and comparison rate of 5.33% p.a.
Easy to apply – takes roughly 10 minutes
Repay weekly, fortnightly or monthly
21 day loan satisfaction guarantee
Save up to 10% on RACV Car Insurance
Fast approval – within 5 working hours
No ongoing fees

Is your car eligible for a secured loan with RACV?

To be eligible for a secured car loan with RACV, your application will be subject to its normal lending criteria. Generally, your chosen vehicle might need to be:

For personal use
Less than seven years old
A new or used vehicle

Check the PDS (product disclosure statement) for more information on RACV’s car loan criteria.

Does RACV also offer personal loans?

Yes, RACV does offer both secured and unsecured personal loans as well as its car loan product. The table below displays a snapshot of RACV’s personal loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.

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RACV FAQs

Applying for a RACV car loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with RACV (or most providers in Australia for that matter), you generally need to meet the following criteria:

The car or motorcycle must be for personal (or business) use
You must be 18 or over
You must be a permanent Australian resident or valid work visa holder
Currently employed with a stable income
Have a solid credit rating and not be bankrupt

In addition, you may also have to meet the minimum loan amounts specified by the provider (see above). If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

A current driver’s license
Details of your current and previous (if applicable) employer
Details of your income, assets, expenses and liabilities
Previous tax returns if you are self-employed

You may also require your current account number for RACV if you’re an existing member.

The Royal Automobile Club of Victoria (RACV) was formed as a motorists’ social club in 1903 and has been providing valuable services to millions of Victorians ever since.

RACV is the trusted insurer for more than 2.1 million Australians, and employs more than 2,000 people. RACV offers specialised policies including cover for over-50s and cover for vintage and classic cars. RACV’s Kids Stuff page has colouring-in pages, printable puzzles, and even printable board games.

RACV supports the community in a number of ways, including through the RACV Community Foundation, which gives grants of up to $20,000 to grassroots organisations to improve the lives of people in need in Victoria. The Foundation has provided over $3.7 million in grants to more than 300 charities from 1977 to 2017.

RACV also provides the Sir Edmund Herring Memorial Scholarship, a $54,000 scholarship for health professionals in Victoria to develop programs to prevent road trauma and improve the quality of care for road trauma victims.

RACV also sustains a number of support partnerships every 2 years, with its current support partnerships being:

Phillip Island Nature Parks
Melbourne Vixens/Netball Victoria
Melbourne Recital Centre
Wildlife Victoria
FareShare
Landcare Australia

RACV is also an environmentally-friendly company. It supports the CERES Energy Smart Choices program for schools and community centres, which educates children and adults about how to be energy efficient. CERES is one of Australia’s most visited community environment centres and has more than 350,000 visitors every year.

Additionally, RACV supported Phillip Island Nature Parks to build an eco-sensitive penguin-viewing facility.

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